Chuck Grassley: “Rarely does the Senate have a simple decision on whether to create jobs or destroy jobs. That is a decision we are going…”

“Rarely does the Senate have a simple decision on whether to create jobs or destroy jobs. That is a decision we are going to make shortly. Today we have that clear choice. We can create jobs or we can destroy jobs. We can destroy jobs by letting a 17-percent tariff on American businesses kick in, as has already begun, at 5 percent on March 4, or we can create jobs by stopping that tariff and instead giving manufacturing business a tax deduction of 9 percent from U.S. income taxes. It has been over 2 years since the WTO ruled the FSC/ETI tax break was illegal. It has been a year and a half since WTO decided $4 billion of EU tariffs could be charged against U.S. exporters. It has been almost 1 year since final approval was granted by the WTO to impose these tariffs. And now it is almost a month since the 5-percent tariff was imposed. Next month that rises to 6 percent and another percent each month until it gets up to 17 percent next March. We have known for years we need to protect manufacturing businesses. That is what this bill is about--protecting manufacturing businesses.”